The last hour brings a bit more activity of the market bulls in the cryptocurrency market, where we can see a clear upward movement in the prices of Bitcoin and Ethereum. Currently, the two major digital currencies are trading around 2.5% higher. Bitcoin is back above the $ 48,000 mark and Ethereum's price is approaching the $ 3,800 level.
Technically looking at the Bitcoin H4 chart, the price has been consolidating for some time. However, until we witness a break above the resistance at $ 51,500 or below the support at $ 45,800, sideways move remains the baseline scenario. In turn, in the short term, traders should pay attention to the zone at $ 48,000 and the level of $ 49,500.
Bitcoin interval H4. Source: xStation5
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